Quarter 2 - financial statement for 2026

Condensed consolidated and separate financial statements For the three months and six months ended 30 June 2026

CONTENTS PAGE

Condensed consolidated and separate statements of profit or loss 3

Condensed consolidated and separate statements of comprehensive income 4

Condensed consolidated and separate statements of financial position 5

Condensed consolidated statement of changes in equity 6

Condensed separate statement of changes in equity 7

Condensed consolidated and separate statements of cash flows 8

Notes to the condensed consolidated and separate interim financial statements 9 - 27

Dangote Cement Plc

Condensed consolidated and separate statements of financial position As at 30 Juxze 2026

Group Compazxy

Chairman, 8 of Directors

These financial statements were approved and authorised for issue by the Board of Directors on 29 July 2026 and were signed on i behalf by:

FRC/ 20t3/lCAN/00000003 t57

Arvind Pathak

Group Chief Executive Officer /GMD FRC/2023/PRO/DIRT 003/ 236066

Gbenga Fapohunda

Group Chief Finance Officer FRC/ 20 19/ICAN/00000019333

Dangote Cement Plc

Condensed consolidated statement of changes in equity For the six months ended 30 June 2026

Group

Condensed separate statement of changes in equity For the six months ended 30 June 2026

Company

Dangote Cement Plc

Condensed consolidated and separate statements of cash flows For the six months ended 30 June 2026

Group

Company

1. General Information

   Dangote Cement Plc ("the Company") was incorporated in Nigeria as a public limited liability company on 4 November 1992 and commenced operations in January 2007 under the name Obajana Cement Plc. The name was changed on 14 July 2010 to Dangote Cement Plc.

   Its parent company is Dangote Industries Limited ("DIL" or "the Parent Company"). Its ultimate controlling party is Alhaji Aliko Dangote. The registered address of the Company is located at 1 Alfred Rewane Road, Ikoyi, Lagos, Nigeria.

   The principal activity of the Company and its subsidiaries (together referred to as "the Group") is to operate plants for the preparation, manufacture, and distribution of cement and related products. The Company's production activities are currently undertaken at Obajana town in Kogi State, Gboko in Benue State and Ibese in Ogun State; all in Nigeria. Information in respect of the subsidiaries locations is disclosed in note 15.

   The condensed consolidated interim financial statements of the Group for the period ended 30 June 2026 comprise the Company and its subsidiaries. The condensed separate interim financial statements of the Company for the period ended 30 June 2026 comprise the Company only.

   1. Securities trading policy

      The Board has established an Insider Trading Policy designed to prohibit dealing in Dangote Cement Plc. shares or securities on the basis of potentially price-sensitive information that is not yet in the public domain. This is in line with the Rules of the NGX, the Investment and Securities Act (ISA) 2007 and the SEC Rules and Regulations. Having enquired, we can confirm that all Directors complied with the Insider Trading Policy during the period under review.

2. Material accounting policies

   The Group and Company's financial statements for the year ended 31 December 2025 have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IASB"), and interpretations issued by the International Financial Reporting Interpretations Committee of the IASB (together "IFRS Standards") and requirements of the Companies and Allied Matters Act (CAMA),2020 and tthe Financial Reporting Council of Nigeria (Amendment) Act, 2023.

   Dangote Cement Plc. Group has consistently applied the same accounting policies and methods of computation in its condensed consolidated and separate interim financial statements as in its 2025 annual financial statements except for the application of new standards. None of the new standards, interpretations and amendments, effective for the first time from 1 January 2026, have had a material effect on the condensed consolidated and separate interim financial statements.

   Standards issued but not yet effective

   A number of new standards are issued but not yet effective. Earlier application is permitted; however, the Group has not early adopted any of the forthcoming new or amended standards in preparing these condensed consolidated and separate interim financial statements.

   Basis of preparation

   These condensed consolidated and separate interim financial statements For the three months and six months ended 30 June 2026 have been prepared in accordance with IAS 34 Interim Financial Reporting, and should be read in conjunction with the Group and Company's last annual consolidated and separate financial statements as at and for the year ended 31 December 2025 ("last annual consolidated and separate financial statements"). They do not include all the information required for a complete set of financial statements prepared in accordance with IFRS Standards. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group and Company's financial position and performance since last annual consolidated and separate financial statements.

   The condensed consolidated and separate interim financial statements have been prepared on the historical cost basis except for derivatives which are measured at fair value and balances of entities in hyper-inflation economies. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

   Fair values

   Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability that market participants would take into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure in these condensed consolidated interim financial statements is determined on such a basis, except for leasing transactions that are within the scope of IFRS 16, and measurements that have some similarities to fair value but are not fair value, such as net realisable value in IAS 2 or value in use in IAS 36. Derivatives are carried at fair value.

   Basis of consolidation

   The Group condensed interim financial statements incorporate the financial statements of the Company and its subsidiaries over whom it has control, made up to 30 June 2026. Control is achieved where the investor; (i) has power over the investee entity (ii) is exposed, or has rights, to variable returns from the investee entity as a result of its involvement, and (iii) can exercise some power over the investee to affect its returns.

   The Company reassesses whether or not it still controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

   The financial statements of subsidiaries are included in the condensed consolidated interim financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed where necessary to align them with the policies adopted by the Group.

   Income and expenses of subsidiaries acquired or disposed of during the period are included in the condensed consolidated statement of profit or loss and condensed consolidated statement of comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate. Total comprehensive income of subsidiaries is attributed to the owners' of the Company and to the non-controlling interests even if this results in the non-controlling interest having a deficit balance.

   In the Company's condensed separate interim financial statements, investments in subsidiaries are carried at cost less any impairment that has been recognised in profit or loss.

3. REVENUE

   Group

   Company

   Volumes Cement production and bagging capacity (for the year)	3 months ended 30/06/2026 '000 tonnes 55,000	6 months ended 30/06/2026 '000 tonnes 55,000	3 months ended 30/06/2025 '000 tonnes 52,000	6 months ended 30/06/2025 '000 tonnes 52,000	3 months ended 30/06/2026 '000 tonnes 29,250	6 months ended 30/06/2026 '000 tonnes 29,250	3 months ended 30/06/2025 '000 tonnes 29,250	6 months ended 30/06/2025 '000 tonnes 29,250
   Production volume* Trade cement purchase	7,281 -	14,492 -	6,434 117	12,981 215	3,312 1,028	6,891 1,919	3,187 1,003	6,594 1,907
   Decrease in stocks**	188	449	245	169	452	885	365	450
   Sales volume*	7,469	14,941	6,796	13,365	4,792	9,695	4,555	8,951
   * includes both cement and clinker volumes ** Decrease in stocks refers to the difference between the opening and closing stocks for the period. An analysis of revenue in naira is as follows: Group						Company
   	3 months	6 months	3 months	6 months	3 months	6 months	3 months	6 months
   Revenue from contracts with	ended	ended	ended	ended	ended	ended	ended	ended
   customers	30/06/2026	30/06/2026	30/06/2025	30/06/2025	30/06/2026	30/06/2026	30/06/2025	30/06/2025
   	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million
   Revenue from sales of cement &
   clinker Revenue from sales of other	1,315,238	2,513,192	1,076,933	2,071,586	943,477	1,805,302	746,284	1,442,326
   products	662	740	6	12	-	-	-	-
   Sales value	1,315,900	2,513,932	1,076,939	2,071,598	943,477	1,805,302	746,284	1,442,326

   All group sales exclude intra-group sales.

4. Segment Information

   1. Products and services from which reportable segments derive their revenue

      The Executive Management Committee is the Company's Chief Operating Decision Maker. Management has determined operating segments based on the information reported and reviewed by the Executive Management Committee for the purposes of allocating resources and assessing performance. The Executive Management Committee reviews internal management reports on at least a quarterly basis. These internal reports are prepared on the same basis as the accompanying consolidated and separate financial statements.

      Segment information is presented in respect of the Group's reportable segments. For management purposes, the Group is organised into business units by geographical areas in which the Group operates. The Group has 2 reportable segments based on location of the principal operations as follows:

      • Nigeria (includes Company and all subsidiaries operating in Nigeria. See Note 15.1)

      • Pan Africa (includes entities operating outside Nigeria. See Note 15.1)

   2. Segment revenues and results

      Performance is measured based on segment sales revenue, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and profit from operating activities, as included in the internal management reports that are reviewed by the Executive Management Committee. Segment sales revenue, EBITDA and profit from operating activities are used to measure performance as management believes that such information is the most relevant in evaluating results of certain segments relative to other entities that operate within these industries.

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	943,477	405,393	-	(32,970)	1,315,900
      EBITDA*	560,471	77,245	(13,971)	(2,518)	621,227
      Other Income	1,542	2,907	-	(16)	4,433
      Profit from operating activities	519,102	49,514	(13,971)	(1,232)	553,413
      Profit/(loss) for the period	304,339	12,898	(13,971)	14,170	317,436
      * represents earnings before interest, taxes, depreciation, amortisation & impairment 10

      Group

      3 months ended 30/06/2026

      Segment results

      The following is an analysis of the Group's revenue and results by reportable segment:

      Group

      6 months ended 30/06/2026

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	1,805,302	775,352	-	(66,722)	2,513,932
      EBITDA*	1,085,789	136,568	(32,570)	(1,504)	1,188,283
      Other Income	6,131	3,609	-	(30)	9,710
      Profit from operating activities	1,009,262	82,939	(32,570)	(34)	1,059,597
      Profit/(loss) for the period	582,641	2,818	(32,570)	85,645	638,534

      * represents earnings before interest, taxes, depreciation, amortisation & impairment

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	746,284	359,471	-	(28,816)	1,076,939
      EBITDA*	450,581	60,653	(26,393)	(1,580)	483,261
      Other Income	15,400	8,301	-	(29)	23,672
      Profit from operating activities	420,183	20,966	(26,393)	(1,197)	413,559
      Profit/(loss) for the period	290,153	250,021	(26,393)	(202,571)	311,210

      Group

      3 months ended 30/06/2025

      Group

      6 months

      ended 30/06/2025

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	1,442,326	682,124	-	(52,852)	2,071,598
      EBITDA*	845,413	137,156	(37,876)	207	944,900
      Other Income	23,343	16,644	-	(46)	39,941
      Profit from operating activities	787,003	60,877	(37,876)	974	810,978
      Profit/(loss) for the period	520,899	139,938	(37,876)	(102,506)	520,455

      * represents earnings before interest, taxes, depreciation, amortisation & impairment.

      Total segment operating profit agrees to the profit from operating activities. A reconciliation of profit from operating activities to profit before tax is presented on the face of the profit and loss account.

      Segment assets and liabilities	Nigeria ₦'million	Pan Africa ₦'million	Eliminations ₦'million	Total ₦'million
      30 June 2026 Total assets	5,719,206	3,151,464	(2,249,032)	6,621,638
      Segment liabilities	2,377,137	4,057,180	(2,983,143)	3,451,174
      31 December 2025 Total assets	5,208,945	3,221,922	(2,390,140)	6,040,727
      Segment liabilities	2,416,474	4,223,941	(3,219,824)	3,420,591

      4.2 A reconciliation of Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) to the profit for the period is presented below:

      Group

      	3 months	6 months	3 months	6 months
      	ended	ended	ended	ended
      	30/06/2026	30/06/2026	30/06/2025	30/06/2025
      	₦'million	₦'million	₦'million	₦'million
      EBITDA	621,227	1,188,283	483,261	944,900
      Depreciation, amortisation, write-off and impairment	(67,814)	(128,686)	(69,702)	(133,922)
      Profit from operating activities	553,413	1,059,597	413,559	810,978
      Finance income	26,387	16,246	97,377	113,257
      Finance costs	(27,036)	(112,105)	(104,258)	(216,162)
      Gain on net monetary positions	7,457	17,649	11,382	21,961
      Profit before tax	560,221	981,387	418,060	730,034
      Income tax expense	(242,785)	(342,853)	(106,850)	(209,579)
      Profit for the period	317,436	638,534	311,210	520,455

5. Production cost of sales

Group

Company

6

(a) The management fee is charged by Dangote Industries Limited (DIL) for management and corporate services provided to Dangote Cement Plc. (DCP). It is an apportionment of DIL's shared-service cost to DCP plus mark-up.

1. Selling and distribution expenses

   Group Company

   	3 months	6 months	3 months	6 months	3 months	6 months	3 months	6 months
   	ended	ended	ended	ended	ended	ended	ended	ended
   	30/06/2026	30/06/2026	30/06/2025	30/06/2025	30/06/2026	30/06/2026	30/06/2025	30/06/2025
   	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million
   Salaries and related staff costs	18,064	34,891	15,595	27,576	10,396	20,422	9,050	15,355
   Depreciation	19,724	35,799	10,804	21,285	17,444	31,324	9,094	18,136
   Advertisement and promotion	717	6,810	7,114	12,092	1,216	4,889	3,817	5,987
   Haulage expenses	182,781	318,597	129,158	253,636	122,334	204,125	71,588	149,205
   Others	3,046	5,755	5,083	6,801	1,064	2,171	4,191	4,992
   Total selling and distribution expenses	224,332	401,852	167,754	321,390	152,454	262,931	97,740	193,675

2. Other income

Group

Company

9

10

There are no dilutive instruments. Consequently, Basic and diluted earnings per share are the same.

1. Income tax

   Income tax expense recognised in profit or loss Current tax expense Deferred tax credit/(expense)	3 months ended 30/06/2026 ₦'million (307,822) 65,037	6 months ended 30/06/2026 ₦'million (373,706) 30,853	3 months ended 30/06/2025 ₦'million (94,158) (12,692)	6 months ended 30/06/2025 ₦'million (182,250) (27,329)	3 months ended 30/06/2026 ₦'million (239,844) 65,384	6 months ended 30/06/2026 ₦'million (294,915) 31,214	3 months ended 30/06/2025 ₦'million (64,107) (10,705)	6 months ended 30/06/2025 ₦'million (126,102) (21,057)
   Total income tax expense recognised in the current period	(242,785)	(342,853)	(106,850)	(209,579)	(174,460)	(263,701)	(74,812)	(147,159)

   11.1

   Group

   Company

   Income tax expense is recognised at an amount determined by multiplying the profit/loss before tax for the interim reporting period by management's best estimate of the weighted average annual income tax rate expected for the full year, adjusted for the effect of certain items recognised in full in the interim period. As such, the effective tax rate in the Interim financial statements may differ from management's estimate of the effective tax rate for the annual financial statements.

   	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Current tax assets
   Balance, beginning of the period/year	1,573	1,826	924	924
   Charge for the period/year	4,932	3,938	-	-
   Payments during the period/year	173	(4,007)	-	-
   Effect of foreign currency exchange rates differences	(60)	(184)	-	-
   Balance, end of the period/year	6,618	1,573	924	924
   Current tax liabilities
   Balance, beginning of the period/year	297,021	183,160	235,242	129,623
   Charge for the period/year	378,638	351,171	294,915	254,702
   Payments during the period/year	(42,844)	(163,591)	(20,062)	(90,268)
   Witholding tax credit and grant utilized	-	(6,718)	-	(2,513)
   Tax credit utilised to offset current tax liabilities	-	(56,302)	-	(56,302)
   Effect of foreign currency exchange rates differences	(3,607)	(10,699)	-	-
   Balance, end of the period/year	629,208	297,021	510,095	235,242
   Deferred tax assets
   Balance, beginning of the period/year	17,757	19,425	-	-
   Credit/(charge) for the period/year	(243)	(3,286)	-	-
   Effect of foreign currency exchange rates differences	(482)	1,618	-	-
   Balance, end of the period/year	17,032	17,757	-	-
   Deferred tax liabilities	353,245 (31,096) (159)	196,422 167,220 (10,397)	182,516 (31,214) -	73,243 109,273 -
   Balance, beginning of the period/year Charge/(Credit) for the period/year Effect of foreign currency exchange rates differences
   Balance, end of the period/year	321,990	353,245	151,302	182,516

   Group Company

   11.2

   11.3

   11.4

   11.5

2. Property, plant and equipment

   1. Group

      	Land & leasehold improvements ₦'million	Buildings ₦'million	Plant and machinery ₦'million	Motor vehicles ₦'million	Aircraft ₦'million	Furniture & equipment ₦'million	Capital work in-progress ₦'million	Total ₦'million
      Cost
      At 1 January 2025	75,468	732,637	3,355,070	666,612	4,028	54,349	487,030	5,375,194
      Additions	-	6,607	98,613	102,933	-	2,128	650,808	861,089
      Reclassifications	595	6,057	191,171	25,392	-	1,843	(225,058)	-
      Transfers	-	-	1,990	(940)	-	-	-	1,050
      Disposals	-	-	(1,214)	(2,245)	-	(5)	-	(3,464)
      Write-off	(13)	-	(4,080)	(7,952)	-	(253)	(226)	(12,524)
      Effect of foreign currency
      exchange rates differences	(7,145)	876	(54,405)	29,107	-	(2,402)	20,196	(13,773)
      Balance at 31 December 2025	68,905	746,177	3,587,145	812,907	4,028	55,660	932,750	6,207,572
      At 1 January 2026	68,905	746,177	3,587,145	812,907	4,028	55,660	932,750	6,207,572
      Additions	2,566	743	24,000	18,111	-	675	308,075	354,170
      Reclassification	-	1,224	47,960	78,639	-	2,211	(130,034)	-
      Transfers	-	-	2,244	-	-	(17)	(1,747)	480
      Disposals	-	-	(3,297)	(1,366)	-	(1)	(7,013)	(11,677)
      Write-off	-	-	-	(11,831)	-	-	-	(11,831)
      Effect of foreign currency
      exchange rates differences	(3,888)	57,059	17,763	(27,519)	-	(3,450)	(257,556)	(217,591)
      Balance at 30 June 2026	67,583	805,203	3,675,815	868,941	4,028	55,078	844,475	6,321,123
      Accumulated depreciation & impairment
      At 1 January 2025	33,844	253,086	1,304,914	474,919	3,581	33,528	-	2,103,872
      Depreciation expense	387	15,855	114,601	72,073	23	4,563	-	207,502
      Transfers	-	-	(183)		-	-	-	(183)
      Disposal	-	-	(786)	(2,245)	-	(3)	-	(3,034)
      Write-off	-	-	(3,662)	(7,868)	-	(213)	-	(11,743)
      Effect of foreign currency
      exchange rates differences	(7,060)	(1,222)	(24,966)	28,403	-	(1,360)	-	(6,205)
      Balance at 31 December 2025	27,171	267,719	1,389,918	565,282	3,604	36,515	-	2,290,209
      At 1 January 2026	27,171	267,719	1,389,918	565,282	3,604	36,515	-	2,290,209
      Depreciation expense	178	8,817	64,988	48,406	12	2,208	-	124,609
      Disposal	-	-	(1,376)	(1,366)	-	-	-	(2,742)
      Write-off	-	-	-	(11,713)	-	-	-	(11,713)
      Effect of foreign currency
      exchange rates differences	(1,722)	(13,642)	(41,393)	(27,314)	-	(2,076)	-	(86,147)
      Balance at 30 June 2026	25,627	262,894	1,412,137	573,295	3,616	36,647	-	2,314,216
      Carrying amounts: At 1 January 2025	41,624	479,551	2,050,156	191,693	447	20,821	487,030	3,271,322
      At 31 December 2025	41,734	478,458	2,197,227	247,625	424	19,145	932,750	3,917,363
      At 30 June 2026	41,956	542,309	2,263,678	295,646	412	18,431	844,475	4,006,907

      12 Property, plant and equipment

   2. Company

      	Land & leasehold improvements ₦'million	Buildings ₦'million	Plant and machinery ₦'million	Motor vehicles ₦'million	Aircraft ₦'million	Furniture & equipment ₦'million	Capital work-in-progress ₦'million	Total ₦'million
      Cost
      At 1 January 2025	3,113	89,231	767,738	340,132	4,028	7,811	45,318	1,257,371
      Additions	-	1,512	43,214	100,578	-	496	151,056	296,856
      Reclassifications	10	1,457	60,466	25,226	-	1,639	(88,798)	-
      Disposal	-	-	(1,214)	(2,245)	-	(5)	-	(3,464)
      Write-off	-	-	-	(7,934)	-	-	-	(7,934)
      Balance at 31 December 2025	3,123	92,200	870,204	455,757	4,028	9,941	107,576	1,542,829
      At 1 January 2026	3,123	92,200	870,204	455,757	4,028	9,941	107,576	1,542,829
      Additions	2,566	268	3,546	5,210	-	87	97,911	109,588
      Reclassification	-	251	43,154	56,579	-	1,954	(101,938)	-
      Transfers	-	-	1,342	-	-	-	(2,244)	(902)
      Disposal	-	-	(2,656)	(1,366)	-	(1)	(7,013)	(11,036)
      Write-off	-	-	-	(11,831)	-	1	-	(11,830)
      Balance at 30 June 2026	5,689	92,719	915,590	504,349	4,028	11,982	94,292	1,628,649
      Accumulated depreciation & impairment
      At 1 January 2025	1,047	31,062	370,838	169,511	3,581	6,105	-	582,144
      Depreciation expense	31	1,957	38,738	60,762	23	1,071	-	102,582
      Disposal	-	-	(786)	(2,245)	-	(3)	-	(3,034)
      Write-off	-	-	-	(7,850)	-	-	-	(7,850)
      Balance at 31 December 2025	1,078	33,019	408,790	220,178	3,604	7,173	-	673,842
      At 1 January 2026	1,078	33,019	408,790	220,178	3,604	7,173	-	673,842
      Depreciation expense	21	1,007	25,424	41,299	12	743	-	68,506
      Disposal	-	-	(1,056)	(1,366)	-	-	-	(2,422)
      Write-off	-	-	-	(11,713)	-	-	-	(11,713)
      Balance at 30 June 2026	1,099	34,026	433,158	248,398	3,616	7,916	-	728,213
      Carrying amounts: At 1 January 2025	2,066	58,169	396,900	170,621	447	1,706	45,318	675,227
      At 31 December 2025	2,045	59,181	461,414	235,579	424	2,768	107,576	868,987
      At 30 June 2026	4,590	58,693	482,432	255,951	412	4,066	94,292	900,436

3. Intangible assets

   Group Company

   Cost	Computer software ₦'million	Exploration assets ₦'million	Total ₦'million	Computer software ₦'million	Total ₦'million
   At 1 January 2025	16,383	15,701	32,084	1,668	1,668
   Additions	250	48	298	49	49
   Write-off	(50)	-	(50)	-	-
   Effect of foreign currency exchange rates differences	(232)	(396)	(628)	-	-
   Balance at 31 December 2025	16,351	15,353	31,704	1,717	1,717
   At 1 January 2026	16,351	15,353	31,704	1,717	1,717
   Additions	965	88	1,053	139	139
   Transfer	17	-	17	-	-
   Effect of foreign currency exchange rates differences	(937)	(687)	(1,624)	-	-
   Balance at 30 June 2026	16,396	14,754	31,150	1,856	1,856
   Accumulated amortisation
   At 1 January 2025	13,258	1,823	15,081	1,587	1,587
   Amortisation expense	720	183	903	28	28
   Effect of foreign currency exchange rates differences	(451)	(212)	(663)	-	-
   Balance at 31 December 2025	13,527	1,794	15,321	1,615	1,615
   At 1 January 2026	13,527	1,794	15,321	1,615	1,615
   Amortisation expense	484	80	564	30	30
   Effect of foreign currency exchange rates differences	(751)	(92)	(843)	-	-
   Balance at 30 June 2026	13,260	1,782	15,042	1,645	1,645
   Carrying amounts: At 1 January 2025	3,125	13,878	17,003	81	81
   At 31 December 2025	2,824	13,559	16,383	102	102
   At 30 June 2026	3,136	12,972	16,108	211	211

   Computer software is amortized on a straight line basis.

   Exploration assets are amortized in line with the useful life of the mines.

   There are no development expenditure capitalised as internally generated intangible asset.

4. Right-of-use assets

   14.1

   Group

   Company

   	Land and buildings	Plant and machinery	Motor vehicles	Furniture & equipment	Total	Land and buildings	Total
   	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million	₦'million
   Cost
   At 1 January 2025	93,892	3,431	1,153	-	98,476	8,024	8,024
   Additions	1,966	801	56	-	2,823	1,169	1,169
   Reclassification	(259)	-	-	259	-	-	-
   Transfers	(36)	-	-	-	(36)	(36)	(36)
   Write off	-	(249)	(353)	-	(602)	-	-
   Effect of foreign currency exchange rates differences	(5,149)	249	68	9	(4,823)	-	-
   Balance at 31 December 2025	90,414	4,232	924	268	95,838	9,157	9,157
   At 1 January 2026	90,414	4,232	924	268	95,838	9,157	9,157
   Additions	928	257	513	-	1,698	928	928
   Effect of foreign currency exchange rates differences	(5,708)	(166)	(37)	(10)	(5,921)	-	-
   Balance at 30 June 2026	85,634	4,323	1,400	258	91,615	10,085	10,085
   Accumulated depreciation & impairment
   At 1 January 2025	25,315	1,837	895	-	28,047	4,808	4,808
   Depreciation expense	5,460	1,028	133	-	6,621	1,200	1,200
   Reclassification	(138)	-	-	138	-	-	-
   Disposal Effect of foreign currency exchange	-	(249)	(353)	-	(602)	-	-
   rates differences	(467)	149	53	5	(260)	-	-
   Balance at 31 December 2025	30,170	2,765	728	143	33,806	6,008	6,008
   At 1 January 2026	30,170	2,765	728	143	33,806	6,008	6,008
   Depreciation expense	2,750	499	105	41	3,395	698	698
   Effect of foreign currency exchange rates differences	(1,324)	(109)	(29)	(6)	(1,468)	-	-
   Balance at 30 June 2026	31,596	3,155	804	178	35,733	6,706	6,706
   Carrying amounts: At 1 January 2025	68,577	1,594	258	-	70,429	3,216	3,216
   At 31 December 2025	60,244	1,467	196	125	62,032	3,149	3,149
   At 30 June 2026	54,038	1,168	596	80	55,882	3,379	3,379

5. Investments

Details of the Group's subsidiaries at the end of the reporting period are as follows:

Place of incorporation and operation

Proportion of ownership or voting power held by the Group

1. Investments (Contd.)

   Investments in subsidiaries	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Dangote Cement South Africa (Pty) Limited	-	-	30,695	30,695
   Dangote Cement (Ethiopia) Plc	-	-	40,036	40,036
   Dangote Cement Zambia Limited	-	-	106	106
   Dangote Cement Senegal S.A	-	-	64,782	64,782
   Dangote Cement Cameroun S.A	-	-	15,160	15,160
   Dangote Cement Production Limited	-	-	28,856	276
   Dangote Cement Limited, Tanzania	-	-	13,851	13,851
   Dangote Cement Congo S.A	-	-	86,997	86,997
   Dangote Cement (Sierra Leone) Limited	-	-	18	18
   Dangote Cement Cote D'Ivoire S.A	-	-	16	16
   Dangote Industries Gabon S.A	-	-	31	31
   Dangote Cement Burkina Faso S.A	-	-	3	3
   Dangote Cement Chad S.A	-	-	3	3
   Dangote Cement Mali S.A	-	-	3	3
   Dangote Cement Niger SARL	-	-	7	7
   Dangote Industries Benin S.A	-	-	3	3
   Dangote Cement Togo S.A	-	-	5	5
   Dangote Takoradi Cement Production Limited	-	-	-	-
   Dangote Cement Madagascar Limited	-	-	2	2
   Dangote Cement Congo D.R. S.A	-	-	6	6
   Itori Cement Limited	-	-	1	1
   Okpella Cement Limited	-	-	1	1
   DCP Cement Limited	-	-	1	1
   Dangote Ceramics Limited	-	-	10	10
   Dangote Cement Yaounde	-	-	22	22
   Dangote Cement - Liberia Limited	-	-	-	-
   Dangote Cement Kenya Limited	-	-	-	-
   Dangote Quarries Kenya Limited	-	-	-	-
   Dangote Quarries Mozambique Limitada	-	-	-	-
   Dangote Cement Nepal Pvt. Limited	-	-	-	-
   Dangote Zimbabwe Holdings (Private) Limited	-	-	-	-
   Dangote Cement Zimbabwe (Private) Limited	-	-	-	-
   Dangote Energy Zimbabwe (Private) Limited	-	-	-	-
   Dangote Mining Zimbabwe (Private) Limited	-	-	-	-
   Dangote Cement Guinea SA	-	-	-	-
   Cimenterie Obajana Sprl- D.R. Congo	-	-	-	-
   Dangote Mines Limited, Tanzania	-	-	-	-
   Dangote Contracting Services Limited, Tanzania	-	-	-	-
   Dangote Mining Niger S.A	-	-	-	-
   Investments in subsidiaries	-	-	280,615	252,035

   15.2

   Group

   Company

   15.3 Investment in associate

   Group Company

   Societe des Ciments d' Onigbolo	30/06/2026 ₦'million 3,222	31/12/2025 ₦'million 3,222	30/06/2026 ₦'million 1,582	31/12/2025 ₦'million 1,582
   Investment in associate	3,222	3,222	1,582	1,582

   The Group holds 43% of the voting rights in Societe des Ciments d' Onigbolo, a cement producing company incorporated in the Republic of Benin.

2. Prepayments

   Group Company

   Advance to contractors	30/06/2026 ₦'million 34,975	31/12/2025 ₦'million 28,969	30/06/2026 ₦'million 50	31/12/2025 ₦'million 50
   Prepayments	34,975	28,969	50	50

   Advance to contractors represents various advances made to contractors for the construction of plants.

3. Lease receivables

   Group Company

   Trucks leased to customers	30/06/2026 ₦'million	31/12/2025 ₦'million	30/06/2026 ₦'million	31/12/2025 ₦'million
   	27,426	27,941	27,426	27,941
   Non current portion of lease receivables	22,471	23,044	22,471	23,044
   Current portion of lease receivables	4,955	4,897	4,955	4,897

   1. Leasing arrangements

      The Group entered into finance lease arrangement for some of its trucks. All leases are denominated in Naira. The average term of finance leases entered into is 4.2 years (December 2025: 4.2 years).

4. Receivables from related parties

   Group

   Company

   Due from related parties - Non current Subsidiaries	30/06/2026 ₦'million -	31/12/2025 ₦'million -	30/06/2026 ₦'million 1,647,854	31/12/2025 ₦'million 1,713,814
   	-	-	1,647,854	1,713,814

5. Inventories

   Group

   Company

   	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Finished goods	33,443	32,874	16,105	16,879
   Work-in-progress	58,527	55,674	9,287	9,374
   Raw materials	53,676	60,664	28,499	26,704
   Packaging materials	32,521	28,705	17,000	13,094
   Consumables	57,691	55,724	36,159	34,440
   Fuel	64,128	54,507	20,033	14,523
   Spare parts	411,561	381,589	221,966	192,318
   Goods-in-transit	68,653	87,098	51,985	62,949
   Inventories	780,200	756,835	401,034	370,281

   Trade receivables Impairment allowance on trade receivables	30/06/2026 ₦'million 63,874 (3,182)	31/12/2025 ₦'million 57,685 (3,789)	30/06/2026 ₦'million 31,882 (1,978)	31/12/2025 ₦'million 27,362 (2,413)
   	60,692	53,896	29,904	24,949
   Staff loans and advances	5,310	4,196	993	610
   Value added tax receivables	16,636	17,652	-	-
   Receivables from registrar	1,241	1,184	1,241	1,184
   Other receivables	74,477	70,544	38,833	34,398
   Trade and other receivables	158,356	147,472	70,971	61,141

6. Trade and other receivables

7. Prepayments and other current assets

   Group

   Group

   Company

   Company

   	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Advance to contractors	79,717	57,567	41,497	26,724
   Advance payment to suppliers	163,674	129,408	114,312	111,372
   Rent and insurance	29,002	27,005	11,451	13,306
   Prepayment for tax credit	212	212	212	212
   Total current prepayments	272,605	214,192	167,472	151,614
   Due from related parties - current
   Parent company	-	-	-	-
   Entities controlled by the Parent company	438,535	449,404	431,113	434,040
   Affiliates and associates of Parent company	7,496	15	-	-
   Subsidiaries	-	-	405,278	415,761
   Current receivables from related parties	446,031	449,419	836,391	849,801
   Prepayments and other current assets	718,636	663,611	1,003,863	1,001,415

   Current advance to contractors represents various advances made for the purchase of LPFO, AGO, Coal and other materials which were not received at the end of the period/year.

8. Cash and cash equivalents

   Group

   Company

   	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Cash and bank balances	579,911	386,161	321,308	134,435
   Short term deposits	216,365	11,408	213,165	8,739
   Cash and cash equivalents per statement of financial position	796,276	397,569	534,473	143,174
   Bank overdrafts used for cash management purposes (Note 24)	(31,417)	(34,983)	-	(27,959)
   Cash and cash equivalents per statement of cash flows	764,859	362,586	534,473	115,215

   Cash and cash equivalents include restricted cash of ₦4.1 billion for Group and ₦3.3 billion for Company (December 2025 ₦2.8 billion for Group and Company) on unclaimed dividend held in a separate bank account, letters of credit for the acquisition of inventories, property, plant and equipment as well as debt service reserve account.

9. Trade and other payables

   Group Company

   	30/06/2026	31/12/2025	30/06/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Trade payables	415,718	398,791	247,049	230,497
   Payable to contractors	547,143	386,307	11,364	8,671
   Value added tax	34,611	30,626	17,817	17,787
   Withholding tax payable	98,346	110,790	3,863	4,143
   Staff pension	4,618	4,026	12	101
   Contract liabilities - Advances from customers	200,417	143,333	139,149	97,959
   Dividend payables	3,931	4,009	3,929	4,006
   Accruals and other payables	208,774	191,740	65,088	34,074
   Trade and other payables	1,513,558	1,269,622	488,271	397,238

10. Financial liabilities